G20, G7 back WB, IMF for temporary halt in debt payments for poorest countries
NEW YORK: G20 and the G7 countries have expressed their support to the World Bank and International Monetary Fund (IMF)’s call for a temporary halt in debt payments for poorest countries.
This was stated by World Bank Managing Director Axel van Trotsenburg in an interview with a British news agency.
He said step had been taken to help the poor countries to focus on fighting the coronavirus pandemic.
According to the reports, the finance officials from the G7 and G20 countries are due to discuss the debt relief issue this week.
Earlier, World Bank President David Malpass said he expected a broad endorsement of the proposal by the 25-member joint Development Committee of the World Bank and IMF on Friday.